Navoiyuran

What Navoiyuran does

Navoiyuran is the State Enterprise of Uzbekistan responsible for the country's entire uranium mining and uranium oxide (U3O8) export operations. Established in January 2022 through the restructuring of JSC Navoiy MMC, the company operates 24 uranium deposits in the Kyzylkum region of Navoiy, using in-situ recovery (ISR) underground leaching technology that has been the country's exclusive extraction method since 1994. With projected output of 7,000 tonnes in 2025 (a 35% year-over-year increase), Navoiyuran ranks among the world's top five to six uranium producers. Reserves of 71,000-72,000 tonnes have been certified by SRK Consulting under the Australian JORC code across 17 key deposits.

The company monetizes production through direct export of U3O8 under long-term bilateral supply agreements with a small set of international nuclear utilities and processors, including Orano (France), Cameco (Canada), Korea Hydro & Nuclear Power, Converdin (USA), and the India Department of Atomic Energy. Beyond core uranium, the portfolio includes rare metals processing, sulfuric acid manufacturing, and a recently launched critical minerals joint venture with Traxys Group (USA) valued at $1 billion. Navoiyuran employs more than 10,550 workers, generated 14.3 trillion UZS in production value in 2025, contributed 5.6 trillion UZS to the state budget, and issued a $300 million eurobond on the London Stock Exchange in June 2025. Governance is supported by Deloitte IFRS audits, ISO 9001/14001/27001/45001/50001 certifications, BB-/Stable (S&P) and BB/Positive (Fitch) credit ratings, and a 2030 development strategy that targets expansion to 30 operating mines and broader international capital markets participation.

Name

Navoiyuran

Legal name

"Navoiyuran" davlat korxonasi

Website

https://navoiyuran.uz

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Navoiyuran is Uzbekistan's state-owned uranium mining and U3O8 export monopoly, operating 24 ISR deposits in the Kyzylkum region as the world's fifth- to sixth-largest producer, supplying nuclear utilities in France, Canada, Korea, the US, and India.

Ownership category

akta.pro rank

Product category

Uranium Mining and Nuclear Fuel Materials

NAICS

Other Metal Ore Mining (212290)

SIC

Metal Mining (1000)

akta.pro primary industry

Uranium Mining & Milling (Yellowcake/U3O8 Production) (EUAKACAB)

akta.pro secondary industries

Uranium Exploration & Resource Development (EUAKACAA), Uranium Refining & Conversion (U3O8 to UF6/UO2) (EUAKACAC), Rare Earths Mining & Concentrates (REE Ores) (IMAKAFAG)

Keywords

• Natural uranium mining
• Uranium oxide production
• In-situ recovery mining
• Rare metals extraction
• Critical minerals supply

Headquarters

HQ city

Navoiy

HQ country

Uzbekistan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Uranium Export: Navoiyuran is the sole enterprise in Uzbekistan engaged in uranium mining and export of uranium oxide (U3O8) as finished products. The company exports natural uranium products to international partners including Orano (France), Cameco Corporation (Canada), Korea Hydro & Nuclear Power, Converdin (USA), and India's Department of Atomic Energy. Revenue is generated through long-term supply contracts with nuclear utilities.

Pricing tiers

Go-to-market motion3 records

Distribution channels1 record

Marketing channels4 records

Core offering

Navoiyuran State Enterprise is Uzbekistan's sole uranium mining and uranium oxide (U3O8) export company, extracting natural uranium using in-situ recovery (ISR) technology from 24 deposits in the Kyzylkum region and exporting processed uranium oxide to international nuclear utilities. The company also produces rare metals, sulfuric acid, and plastic pipe products as part of its diversified mining and industrial operations.

Product overview

Navoiyuran State Enterprise is a state-owned uranium mining company offering natural uranium extraction, processing, and export services. The portfolio includes uranium mining using in-situ recovery (ISR) technology from 24 deposits, uranium oxide (U3O8) production for export, rare metals processing, and sulfuric acid manufacturing. Operational facilities include the Uranium Production Factory, Zafarobod Mining Department, Uchquduq and Nurobod Production Areas. The company recently launched commercial production at the Qizilkok project and operates digital transformation programs including SCADA Dashboard, ERP, and 3D geological modeling systems.

Differentiator

Problem solved

Functional benefit

Products and services

• Natural Uranium Oxide (U3O8) Export Processed natural uranium in oxide form (U3O8), the company's primary export product sold under long-term contracts to international nuclear utilities including Orano (France), Cameco (Canada), Korea Hydro & Nuclear Power, Converdin (USA), and India Department of Atomic Energy. Used as nuclear fuel feedstock for power generation.
• Qizilkok Commercial Uranium Production Commercial-scale uranium production from the Qizilkok deposit, a new mining operation in the Navoi region contributing additional annual capacity of 1,200 tonnes to Navoiyuran's overall uranium output. Supplies processed uranium oxide to international nuclear utilities.
• Rare and Precious Metals Extraction Extraction and processing of rare and precious metals as a specialty product line alongside uranium mining operations, including rhenium production capacity at the Zafarobod Mining Department.
• Critical Minerals Production (Traxys Partnership) Critical minerals extraction and supply under a $1 billion agreement with Traxys Group (USA), targeting a planned production capacity of 150 tonnes per year for clean energy and technology supply chains.

Quantifiable outcome

• 35% production increase in 2025 compared to 2024
• +3 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

13 partnerships are on record, tiered core and strategic.

• Orano (France)coreStrategic or Co-development PartnerOrano is a key international partner for Navoiyuran. The French nuclear company receives uranium oxide exports from Navoiyuran and has signed agreements for joint development of uranium deposits including the Jongeldi project for industrial-scale mining.
• Cameco Corporation (Canada)coreStrategic or Co-development PartnerCameco, one of the world's largest uranium producers, is a long-term export partner receiving natural uranium products from Navoiyuran for processing and supply to nuclear utilities.
• Korea Hydro & Nuclear Power Co., Ltd (KHNP)coreStrategic or Co-development PartnerKHNP receives uranium supply from Navoiyuran for South Korea's nuclear power program, one of Asia's largest nuclear energy markets.
• Converdin (USA)coreStrategic or Co-development PartnerAmerican company Converdin receives uranium exports from Navoiyuran as part of long-term supply arrangements for the US nuclear market.
• India Department of Atomic EnergycoreStrategic or Co-development PartnerIndia represents a strategic partner offering stable multi-year contracts without demanding geopolitical loyalty. India's SHANTI Act opens civilian nuclear sector to foreign investment, creating predictable long-term uranium demand.
• ITOCHU Corporation (Japan)coreStrategic or Co-development PartnerJapanese trading company ITOCHU has strategic cooperation agreements with Navoiyuran for mining projects and attracting Japanese capital into strategic raw materials extraction and processing in Uzbekistan.
• JOGMEC (Japan)coreStrategic or Co-development PartnerJapan Oil, Gas and Metals National Corporation (JOGMEC) partners with Navoiyuran on uranium projects as part of Japan's strategy to secure stable uranium supplies.
• Cauldron Energy (Australia)strategicStrategic or Co-development PartnerNavoiyuran and Cauldron Energy signed MoU for joint uranium mining projects in Australia, including the Yanrey Uranium Project. Cooperation began at international forum in Sydney in 2025 with regular communication channels established.
• Rosatom/Techsnabexport/Uranium One Group (Russia)coreStrategic or Co-development PartnerCooperation agreement signed March 26, 2024 includes mutual professional development, technology exchange, and visits between Navoiyuran and Russian uranium operations including AO Dalur.
• Traxys Group (USA)coreStrategic or Co-development Partner$1 billion critical minerals agreement signed February 2026 for extraction and supply of critical minerals with planned production capacity of 150 tonnes per year. Project implementation scheduled for May 2026.
• State Nuclear Uranium Resources Development Co., Ltd (China)strategicStrategic or Co-development PartnerChinese delegation discussed joint development of uranium deposits, geological exploration at new sites, and technological solutions for non-traditional uranium resources. Working group established for cooperation.
• Nurlikum Mining (Joint Venture)coreStrategic or Co-development PartnerJoint venture company Nurlikum Mining has entered a new phase of development, representing Navoiyuran's international joint venture structure.
• Deloitte (Big Four)coreImplementation/ SI/ Consulting PartnerDeloitte audited Navoiyuran's IFRS financial statements for 2022-2023 and issued positive conclusion, confirming the reliability of financial reporting systems.

Scale indicators15 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Kazatomprom: National uranium operator of Kazakhstan and the world's largest uranium producer, also using ISR technology. Directly comparable in technology stack (ISR), product (U3O8), customer base (utilities), and government-owned structure.
• Cameco Corporation: One of the world's largest publicly traded uranium producers and a key Navoiyuran customer/partner. Direct peer in uranium mining and U3O8 production with similar tier-1 utility customer base.
• Orano: French nuclear fuel cycle company engaged in uranium mining, conversion, and enrichment. Direct peer and Navoiyuran customer, with co-development agreement for the Jongeldi deposit.
• Uranium One Group: Rosatom subsidiary and major uranium producer with ISR operations, party to Navoiyuran's cooperation agreement. Direct peer with similar ISR technology and customer overlap.

Broad incumbents

• CGN Mining: Hong Kong-listed subsidiary of China General Nuclear Power Group engaged in uranium trading and investment. Broad incumbent peer focused on Chinese nuclear utilities, comparable through Navoiyuran's State Nuclear Uranium Resources Development partnership.

Emerging players

• Energy Fuels: US-based uranium and rare earths producer with conventional and ISR operations. Emerging peer overlapping in U3O8 production and critical minerals diversification strategy similar to Navoiyuran's rare metals division.
• Paladin Energy: Australia-listed uranium producer with ISR-focused Langer Heinrich mine. Emerging peer using comparable ISR technology to serve utility customers.
• Denison Mines: Canadian uranium developer with ISR-focused Wheeler River project. Emerging peer in ISR uranium extraction targeting North American utility markets.
• Boss Energy: Australia-listed uranium producer restarting Honeymoon ISR mine. Emerging peer using ISR technology and connected via Navoiyuran's Australian joint-venture discussions.
• Cauldron Energy: Australia-listed uranium explorer with MoU signed with Navoiyuran for joint uranium mining projects including Yanrey. Emerging peer through direct partnership relationship.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@navoiyuran
• Instagraminstagram.com/navoiyuran

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Navoiyuran